CRE Hell

There are definitely things I like to be wrong about, but it's hard not see the administration's solutions as largely being about preserving the existing order while propping up everything just long enough for the free market fairies to return and save us all. Maybe fine if it works, but I'm just not sure it's going to work. Still a lot of shit on the books, and residential and commercial foreclosures aren't stopping...

"The middle class, they're just dead in the water," said Cathy Lada, owner of the flooring store, A Lada Flooring. "We're basically (living) paycheck to paycheck right now. There's no security."

With tenants hurting and unemployment rising, banks are bracing for another round of shaky loans, this one to borrowers who own property such as shopping centers and office buildings.

Regulators warn that banks haven't fully accounted for the trouble ahead. And while Shore-area banks say they have enough money on hand to cover it, their stock prices have taken a hit and they have reined in lending even more.